In my case, the documents initially consisted of a batch of standard clauses, which were also unsuitable in my case, but then additional agreements followed that supplemented or adjusted the standard clauses.
As you wrote it, it sounds more like a contract that could fit an existing property. But we only see small excerpts here. The easiest way is to ask the bank ;-) Which one is it anyway?
Normally, the loan agreement is concluded shortly before the start of construction.
So the risk you are talking about doesn’t exist.
That is not realistic in my case. The requested construction companies all have fully booked order books for up to a year or even more.
If I wait that long with the loan, the interest rates will be through the roof. That’s exactly why many people do it this way, concluding loan agreements early and thus “securing” interest rates and preferring to pay commitment interest.
That is (more or less) normal. Six months is short, however. We write in 12 months. But it has nothing to do with commitment interest or that the loan has to be fully drawn after this time.
What does it say literally? Otherwise, talk to the bank. That cannot be a disbursement condition for new construction.
Then I understand the meaning of this sentence is not in the general conditions. For me, it contradicts the existence of commitment interest. If the loan must be drawn after 6 months, why then commitment interest after one year without drawdown?
My only explanation is that this condition is just a standard clause, which is overridden by the concrete inclusion of commitment interest in the actual contract.
What exactly does it say there and how are you building? For us (however renovation with an architect) a cost calculation according to DIN276 was required and we had to demonstrate that we could mitigate the corresponding risks.
Are you maybe working with individual contracts and doing the construction management yourselves?
Literally, regarding the payment requirements, it says:
“In order for all payment requirements to be met, we still need the following documents before the first payment”
Note the “before the first payment.”
Then there is a list with items such as mortgage registration, construction contract, etc., and:
“Invoice submission trades/craftsmen invoices in copy in the amount of x €” where x is exactly the total amount of the construction costs.
And no, we want to handle everything through one construction company.